 | Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality : A Structural Framework for Policy Author/Editor: Era Dabla-Norris, Yan Ji, Robert Townsend, Filiz D Unsal. Release Date:January, 2015 We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinent constraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each more...
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 | Local Housing Market Cycle and Loss Given Default: Evidence from Sub-Prime Residential Mortgages Author/Editor: Yanan Zhang, Lu Ji, Fei Liu. Release Date:July, 2010 This paper studies the impact of housing market cycles on loss given default (LGD). Previous studies have shown that the current loan-to-value ratio (CLTV) is the most important determinant of LGD. more...
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